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+39
Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3)

NoEquityResearch

Hey everyone...sorry to take so long for part 3 of equity research vs. investment banking. For those who missed the first two parts, see the links below: [Work/Life Balance: Equity Research Vs. Investment Banking - (A Definitive Guide, Part...

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Anyone worried about getting laid off?

SomePleb

Title says it all. Would be interesting to get a poll going including firm size (bb/<abbr title="middle market">mm</abbr>/etc) and sector.

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I was in Equities Research for 10 years in Asia – Ask Me Anything

bankingtostartup

Just some brief background about myself. I started in Australia working as an Actuarial Analyst and moved to Hong Kong just before the Financial Crisis. My first job at an Investment Bank was at a Bulge Bracket doing Data Management for their Equities Research Department. Eventually, I got...

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+8
Help with Writing ER Reports for Beginners (Value Investing)

NeverOutOfTheFight

Hello, I am trying to put together a few short ER reports before I start my MSF program in the Fall and don't really know how to make it both educational and relatively basic. I have been self-studying on and off for the past 2 years. I have read a few investment books (Intelligent Investor, Securi...

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MS biotech ER team reputation?

kev121212

Hi, Does anyone know the reputation of Morgan Stanley's biotech ER? Do they have any II-ranked analysts? Thanks!...

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Hearing back from interview during earnings season

Xohs

Hello all, About 3 weeks ago I interviewed for a FT position as an ER associate at a BB. I didn't go through HR as I had a PM that is their client pushing my resume for me and vouching for me. I thought the interview went very well and they told me what would happen if I got hired etc. However, it'...

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Switching from Endowment Analyst to sell side ER

wallstreetfuture221

Hey everyone, I am currently an Analyst at an Endowment office (not super well known) and I know I do not want to be there long term. Being in manager selection does offer great exposure to the overall investment universe, so I am grateful for that. However, it does not provide direct side exposure...

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BAML Global Research Sophomore Summer Analyst Program 2019

A-D.ER

Hey all, I didn't see a thread for the sophomore ER program at BAML so I figured I'd post one to get the conversation started. Just wanted to see where others are at and get a feeling for how the process is from some who have already gone through it. Any insight is greatly appreciated....

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+4
New to Buyside ER. Which Sector to Cover?

mktmonkey

HI there fellow monkeys, first time poster here. I just recently broke in to buyside ER and was given the unique opportunity to choose which sector I want to cover since I'll be their first ER guy. Which sector would you guys suggest and why? Thanks in advance ...

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+2
Barclays ER

brearraea

Would really appreciate it if anyone have inside or decent knowledge about Barclays ER in terms of quality, rank, outstanding group etc. I have an exploding offer with them for 2019 SA, so would love more insight on how valuable this internship could be. Thank you guys in advance...

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Switching from Engineering to Finance

khajkhkhsskeh

Dear Friends, Hope you all are doing very well. I am an Engineer with PhD (in Engineering) and 5+ years of work experience in oil and gas industry (living in Calgary, Canada). I always appreciate what I learned from Engineering, both at school and work experience, But I feel that this is not an are...

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JP Morgan ER Offices?

Trojan1999

Hi, I'm a rising sophomore at a West Coast school and I'm looking at the research role in JP Morgan's 2019 Summer Markets internship. Which JPM offices actually recruit research interns? I'd like to work in SF, but I don't want to apply there as my first preference if there aren't any opportunities ...

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Interview question- Suppose I give you $10,000 USD. How will you invest it?

Delilah12

Or some variation of this question. What are the follow up questions I should ask (eg: expected return, time horizon) And were I to answer this in October of 2017, what could be a good answer structure? ...

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FCFE Question - Negative Change in Net Working Capital (Non Cash)

Dazed_Iam

Hey guys, I'm working on a valuation for a company but have some questions. The company I am reviewing is a low capital intensive company. The change in net working capital is negative year over year because the company has over 70% of it's current assets in cash and equivalent. I've looked arou...

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ER Interview with Associate Director - After 2 years

Anonymous Monkey

Just found out I got an interview with an Associate Director of a large bank this week. The funny thing is that I interviewed with him 2 years ago while I was in a Big 4 and studying for the CFA L2. Now I'm in a F500 FP&A role and a CFA Charterholder. Looking back, he asked some questions that I ...

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BiliBili

Brio

Thinking about buying some of this stock before the 8/22 earnings release. Has anyone else researched this? ...

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+39
Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3)

NoEquityResearch

Hey everyone...sorry to take so long for part 3 of equity research vs. investment banking. For those who missed the first two parts, see the links below: [Work/Life Balance: Equity Research Vs. Investment Banking - (A Definitive Guide, Part 1)](https://www.wallstreetoasis.com/forums/worklife-balan...

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Would you rather be a SS ER with coverage or BS analyst?

CFA_monkey13

Curious the opinions of those with different perspectives if it's a better gig to be a sell-side equity analyst with coverage of any kind but most likely not a major I.I. category or a buy-side analyst (long or HF) at a decent sized AUM house for each respectively. Obviously both industries changing...

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2019 Equity Research SA MegaThread for EMEA and APAC

Beabs

As of now, GS, JPM, MS, CS and Jeffries have started accepting 2019 applications for Equity Research. What have you applied? What should we expect for hirevue/tests? ...

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+33
Ask a VP in Equity Research anything

Fanalyst

I haven't seen one of these in a while, so I figured I would start one. I am a Vice President in equity research, with coverage of a selection of stocks (from mid to small cap firms) within a large sector. I'm at a top 10 bank. Ask me about how the industry works, lifestyle, recruiting, compensati...

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Ask a VP in Equity Research anything - 2018 Edition

Fanalyst

It’s been two years since I did the last one ("Ask A VP in ER anything" ), so I figured I would do one more. Let’s talk about the industry, MIFID, banks in general, trends in the industry, long term career outlooks, etc. ...

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Is Equity Research really decent at getting exit opps to top AM and HFs?

lakebeachadvisors

It's hard to corroborate this claim on LinkedIn, since it's hard to get linkedin to search correctly. Can people name some exits they've seen in the past? Thanks...

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If you could cover any sector, what would it be and why?

NYU-Trader

If you could start over and cover any sector from the start which would it be and why? Is there a reasonable argument that any one sector particularly positions you well for eventual generalist investment positions? Bonus: where do you see consumer discretionary fitting into this conversation? I'm...

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Test/Case study for RBC Research Associate interview

ramfinanceguy121

Hey, Wondering if anyone has information on, or has completed the case study/excel test that Royal Bank (RBC) makes potential Equity Research Associates complete. I might have to take it next week, and so any insight would be greatly appreciated. Thanks...

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Depreciation Nerds: Need help

gummybear90

Hi guys, i'm looking at a company with a very asset-heavy business model that should depreciate a lot. They include D&A in their financial statements under OpEx, with no further breakdown (just line item OpEx, not even the amount of D&A). In their cash flow statement, however, they have a D&A expen...

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[SA] MS equity research vs. JPM FICC sales

ijoonna

I got two summer analyst offers, both leading to potential full-time offer. 1. MS Equity Research 2. JPM FICC Sales. I have been an equities guy, mostly because I started investing in stocks 4 years ago when I first entered college. I am delighted when I have discussions about the eq market but d...

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2017 Institutional Investor All-America Research Team

NotThatCreative

Starting my ft gig in equity research soon and I'd like to go through the 2017 II list to see which analysts I should be trying to work for when sectors are assigned. Unfortunately I can't find anything online, so if you have a link/pdf you could share here/pm, that would be greatly appreciated!...

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Difficulty of Series exams after CFA?

gata

So I just took CFA L1 a few weeks ago (crushed it, but probably failed). Just landed a job at a FIG IB in ER. I have a few questions but they are simple. How "difficult" are the 7, 63, 87, 86, combined compared to the CFA, and how much will CFA studies overlap into studying for the Series exams? Als...

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Breaking into ER, Seeking Career Advice

Cheering_Chimp

Hi Everyone, I'm a recent graduate from a non-target school. Currently I'm waiting for my CFA lv2 result. I have 80% confidence I can pass that. I always have a strong passion on equity research but I couldn't find one after graduated from the school and I ended up working in a public life scienc...

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Similarities between Enron and Tesla

CapitalOcean

The CEO called an analyst (investor?) “asshole” in a cc before Enron went bankrupt. The CEO of Tesla called a question from an analyst “bonehead question” in the last cc. Both are very innovative companies....

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Transition from Corporate Finance to Equity Research

SeniorJobSearcher

Hello, I recently graduated and accepted a corporate finance role because by the time I received the offer, I was in a position where I needed a fall back and a source of income while I search for IB/ER positions. Plus, the firm I work for is phenomenal. I have been working there for about two mont...

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What are the best independent research shops?

Bruce Buffman

Hey Guys, i was wondering what you guys thought were the best independent research shops? i know that bernstein and isi have great reputations. jeff degraaf, former of isi just started his own shop called RenMac and fromer Strategist Jason Trennert runs Strategas. There are also the cleveland shops...

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From Financial Services to Equity Analyst? Is it possible?

aaron.white93

Hello. I graduated last year from York University in Toronto, Canada with a bad GPA (2.8). I did not pursue any internships so I graduated with no finance experience asides from my degree. Currently I am working in a call center for a investment fund company and plan to pursue CFA or an MBA. Since I...

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How large is the Stifel Consumer ER team?

NYU-Trader

How large is the Stifel Consumer ER team? I'm filling this section out because I haven't filled the character count. Thank you....

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Graduate roles: which equity research groups to apply for?

LDN2018Apps

Any ideas on which are the best equity research groups in London to work for? I hear that the quality of the analyst/team you work for supercedes in importance the prestige of the bank e.g. could feasibly be a better opportunity to work for a team at BNP Paribas than a team at Goldman Sachs, if the ...

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How to find Bloomberg security codes for Bloomberg Excel Add-In?

test123488

Hey, I don’t have access to a Bloomberg Terminal. But luckily my brother in law has. I would like to have some historic price data for indices like the ones of the MSCI Family (MSCI World, MSCI Europe and so on). To reduce the workload for him since he has to do it at work I would like to provide...

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Work/Life Balance in ER at smaller UK brokers (e.g. Panmure, Peel Hunt etc.)

RG1825

Does anyone know what the hours tend to be like at the UK middle-market places, as opposed to BBs? Preferably for an Associate in ER. Cheers!...

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Series 86/87

DP33

Passed 7/63 no problem with minimal studying. Took the 86 and failed by a few points despite studying extensively (read book, did all practice questions 2x). Complete and utter disconnect between the worthless STC materials and the actual test. Any help/tips would be appreciated. I don't want to fa...

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Equity Research Interview

GinandJuice

Hey WSO, I have an equity research final interview on Friday. This is the opportunity I have been working for since I graduated undergrad five years ago. Needless to say, I do not want to mess this up. The position is in oil and gas. I am expected to present a stock pitch, preferably an oil and gas...

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Equity vs. High Yield Research

Scandal

Hi all, Wanted to probe everyones' minds on this topic - doesn't seem to be much out there and you only hear about equity research. Do you all think that ER is a bit saturated, or at least more saturated than HY? Also, I take it the exit opps are a bit different - I'd imagine that HY places we...

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Equity or HY Credit Research?

ghi1342

I'm starting out at a sellside firm in NYC as a first-year analyst in the investment research division and would love to get perspective on the pros and cons of equity vs. high yield research--both in terms of the current trends in those spaces and opportunities down the road. ...

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Equity research associate (insurance focused) VS valuations advisory senior associate (multi-sectors focused)

michael.limichael1987

As the title indicates, there is a dilemma between ER at RBC vs Valuations at Duff and Phelps. The ER is associate and insurance focused while valuations advisory is senior associate and multi-sectors focused. Pay and working hours are similar and both roles are London based. It would be appreciated...

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Starting salary and expected bonuses at MM banks?

yyyyyyyyyy

What are average starting salaries for ER Associates at the MM banks like Piper Jaffray, Baird, Raymond James, etc.? And for associates what is the typical bonus range? What impacts your bonus? Similarly what are ER Associate salaries for like 3-5yrs exp and bonuses? If you've worked at a MM as an ...

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Morgan Stanley Sophomore Summer Equity Research Analyst Program

GoPats123

Hello, Just curious, as someone who is interested in Equity Research, how competitive is the MS sophomore summer internship compared to their banking internships? Also, what is a good Soph summer internship to look for if I am interested in equity research?...

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Equity Research vs. Consulting

babaganoosh213

So I have a bit of a dilemmma. I work for a boutique pharma consulting firm and am looking for the next opportunity. While I was thinking of trying to lateral to a bigger firm focused on pharma/biotech (Clearview/IMS/ZS), I am interested in equity research as well and passed the CFA Level 1 in Decem...

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